US Government Will Not Help Finance Kenya Pipeline Project

The United States Ambassador to Kenya has clarified that his government will not help finance the construction of an oil pipeline in Kenya terming media reports to suggest the same inaccurate.

In a statement on the embassy’s website the ambassador explained he will however support for a proposal by a consortium of American companies to participate in the Lamu Port-South Sudan-Ethiopia-Transport (LAPSSET) Corridor Project, which conceptually includes an oil pipeline component.

The ambassador also went ahead to correct that the $14-18 billion financing will be for the pipeline expounding that it is for the Power Africa initiative to support renewable energy power development.

“Recent media reports of Ambassador Godec pledging U.S. financial support for an oil pipeline in Kenya are inaccurate. ‎During his meeting with Kenyan Cabinet Secretary for Energy and Petroleum Charles Keter on January 5, the Ambassador said that a Power Africa analysis indicates that Kenya will need ‎$14-18 billion to finance renewable energy power development, and not a pipeline,” the statement continues.

Reports of the US government backing of the Kenya crude oil pipeline project has been criticized at home especially by proponents of the $7 billion TransCanada Keystone XL pipeline which has been halted by the Obama regime.

Author: OilNews

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